The process that results in the release of certain amounts of a particular digital currency into its circulating supply. Mining is often the process that governs the verification of transactions and the addition of blocks to a blockchain.
Bitfarms, a Canadian Bitcoin mining firm, mined 411 BTC in September 2023, marking a 7.3% increase from the previous month. The company sold 362 BTC, generating $9.5 million in revenue. Bitfarms has been expanding its operations, including fully energizing its Argentina facility at Rio Cuarto to 51 MW, and increasing its total operating capacity to 233 MW.
Integrated Ventures Inc. reported a yearly mining revenue of $3,862,849, despite an increase in Bitcoin production to 162.71 BTC in 2023 from 108.29 BTC in 2022. The dip in revenue is attributed to the declining cryptocurrency market with the average dollar value of mined Bitcoin dropping significantly.
Chaos Labs proposes a $20M, 6-month Launch Incentives Program for the transition to dYdX v4. The initiative aims to facilitate user and volume migration to the new dYdX Chain, with a robust pre-launch and post-launch strategy. Governance proposals will guide the distribution of DYDX rewards, maintaining transparency and community oversight throughout the program.
Core Scientific has secured a $53.9 million investment from Bitmain, a leading manufacturer of digital currency mining servers. The deal involves a $23.1 million cash payment and an equity exchange worth $53.9 million in Core Scientific common stock. The partnership aims to boost the Bitcoin Network's efficiency and contribute to the company's self-mining hash rate.
Coinbase's Blockchain Security Team has identified a 51% control over the Zcash network's computational power by a single mining pool, ViaBTC. This raises concerns about security vulnerabilities, such as double-spend attacks and censoring transactions. To address this, Coinbase increased the Zcash confirmation requirement to 110 blocks, transitioned its trading markets to a limit-only state, and engaged with stakeholders.
Tether is testing its new Bitcoin mining platform, Moria, which has undergone significant software enhancements, including software-driven PDU management and multisig approval. Moria is designed to integrate with IoT devices, potentially revolutionizing mining operations. Tether's diversification into Bitcoin mining is still in its testing phase.
Core Scientific has agreed to sell its Cedarvale Bitcoin mining site in Texas to Celsius Mining LLC for $14 million. The deal will settle ongoing litigation and allow Celsius to expand its Texas data centers. The Cedarvale site, valued at $45 million, will be overseen by US Bitcoin Corp. The transaction is not impacting Core Scientific's mining fleet.
BlackRock has invested $411.54 million in Bitcoin mining businesses, including Riot Platforms Inc., Marathon Digital Holdings, Cipher Mining, and Terawulf, and proposed a Bitcoin ETF, despite SEC reluctance, highlighting Bitcoin's growing importance in finance.
Paolo Ardoino, CTO of Tether and Bitfinex, confirmed the authenticity of a photo of a container bearing the "Tether Energy" logo, confirming it was a depiction of a control room at a Latin American site nearing completion. Ardoino also shared a 3D design of the site.
Mawson Infrastructure Group, a leading digital infrastructure and Bitcoin mining company, reported a 23% month-on-month increase in its "Total Revenue Equivalent in BTC" to 163. The company's operational capacity was 96 Megawatts, supporting 27,636 Bitcoin miners. Mawson is exploring expansion opportunities in PJM energy markets and securing strategic sites for long-term digital infrastructure.